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Published: Fri, 02 Feb 2018

Definition of contract

Introduction

What is contract? Contract is one of a promise that made by one party to another party. It also can define legally binding agreement, the promise which the law will enforce. In clasification there are three types of contract that is simple contract,bilateral contracts and unilateral contract.Simple contract,the contract that which are not deeds are call as simple contracts. Bilateral contracts that one where a promise by one party that exchanged for a promise by the other. The promise is enough to do changes to the both enforceable.Thus in contractfor to the sale of good, the buyer of promises those to pay the price andthe seller to deliver the goods. Unilateral contracts,is one of where party of promises to do something in ther return for an act of the other party as something opposed to a promise.

Offer is by proposer and acceptance is by agreement or conract for example i would like this to sell you for RM10.00 it’s become statement and agreement can be vorbal but contract can’t be vorbal.Consideration is exchange of things. The definition of offer is, an offer is an exprication of willingness to be bound by the term of the contract and also it can be made to one person (bilateral) or two group of person all to whole world at large (unileteral). A bileteral offer can take form of a promise to do something in return for the offery to do something.Offeror , i offer to give a pen free if u jump like frog ten times. If you done the promise it’s become offeree.

A uniletaral offer it is a one sided promise to pay or reward someone for performing and act ,promise because it is made without it is one sided the offeror knowing who the offeree is for example,see the case of Carlill v Carbolic Smoke Ball Co (1893) 1 QB 256, CA. According to S4(1) of the contract act 1950 cominication of the offer its complete when the offeree knows about it there will be no offer unless it is clearly cominicated to the offeree and it must be to knowledge to offeree.An offer can be made orally return orby condact it is made orally or inviting it is an expressed offer if it is made by condact it is may implied offer. Generally advertisments thet are place into news papers are not offer but invitation to treat for example,partridge v crittenden (1968) 1WLR 1204 and also Fisher v Bell (1953) 1 AII ER 482,CA. An offer continue to exist until it is accepted unless 1 it reboked example payne v cave 1789 2 it is rejected 3 is expiers ramsgate victorya hotel company and montetaion 1866. 4 rerocation to be affective it must be cominicated.

Acceptance,despite the acceptance for the postal rule as explain above acceptance in the form of fax,telegram or E-mail must be communicated to be offeror for a contract to be binding.If the term offer of the amended this would to amount to a counter offer, see the case of Hyde v Wreneh the year 1840. If an offeree makes a request of futher information with regards to the product or services that would not amount to a counter offer but a mere encuary.” A conditioner assent to an offer is not an acceptance to affer….the use of the phrase subject to contract”. In a respon to an offer is a conditioner assent which means that, the offeree is standing that his assent to the terms of the offer is conditioner upon a formal contract being from out until there is an acceptance which in not status to be subject to contract there is no contract. Once acceptance has been communicated is cannot be with drawn but an offer can be reward anytime before it is accepted see the case of Payn v Case 1789

Damages are avoided to compensation the injured party for any consequence of the breach of contract. Section 74 of the contract 1950 state that the consequence of the breach of contract: “ When a contract has been broken, the party whose suffered by the breach is entitled to receive from the party who has broken the contract a compensation or any lost of damage cause to him thereby, which merchanary allow in the usual cost of liability from the breach which the party new when they make the contract to be likely to result from the breach of it.” Section 74 above follow the common law rule laid down hardly and Brandt v. Superior Court. The specific performance is an equitable remedies where the court directs that the contract performance to its terms. As it is an equitable remedies, it is given a description of the court and it is not available as a race. The provition governing these remedies are contain the specific relief act 1950.

Section 1 sub(1) of the specifice relief act 1950, give example of substitue when the court may ground performance, such as where the acts have not perform was for the performance of the trust, where there is not standard the court can use to access the damages cost by non-performance and when the plaintiff would not get to equitable the relief if it X agree upon has not performance and where the money would not an equitable and compensation.

An one order to other order from court that where is an in individualy is to required to refrain from the futher doing of the act complain of. In the content of contract,the ramidies is given for and were be granted to enforce a negatively stibulation in a contract in a case it will order to get search plaintif for some action for damage. Repetition one of a party that who has entirely or in part perform it in a side of the contract and is not receive or agreed consent performance influence may sometimes be an antitled to repetition for its own performance where this consist of the payment of the money and the payor is was simply can see that to take it back, where it consist of some else to benefits, it claim recompensy in respite of it.

CONCLUSION

In a conclusion, whats the reason for your business will choose every day the different type of contracts. You can discuss with your employer of company a contract. And also you can or must contact your insuarance and automaticly the employer contract for dry claen contract. A company may have to have a contract with another company. In our world is to do anything what we like and associated contracts. There is two most important thing to know before you understand the contract, rule of contract and bound to theire contract. If you realy understand the contract it is important forask some questions until you do it.The last is as normal with a lawyer to help you and understand the contract is not a biggest matter how simple is constitute a conttract.

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